Virginia reports $63.1m in casino revenue for August
The three casinos paid a combined $11.7m in taxes to the state.
US.- The Virginia Lottery has released its monthly report on casino gaming activity at Hard Rock Hotel & Casino Temporary Bristol, Rivers Casino Portsmouth and Caesars Virginia. Gaming revenue in August totalled $63.1m, up 6.4 per cent compared to July ($59.3m). Slot revenue for the month reached $48.1m, while table games revenue was $14.9m.
Rivers Casino Portsmouth generated $26.6m in revenue, $19.2m from its 1,378 slots and $7.4m from 85 table games. Hard Rock Hotel & Casino Temporary Bristol generated $15.9m: $13.3m from 905 slots and $2.6 from 29 table games. Caesars Entertainment’s temporary casino in Danville reported $20.4m in adjusted gross gaming revenue: $15.6m from 826 slot machines and $4.8m from 36 table games.
The state collected $11.7m in taxes. Of the state tax on casino AGR, the statute specifies distributions to the Problem Gambling Treatment and Support Fund, the Family and Children’s Trust Fund, and the host city. For the Bristol casino, the statute specifies that the portion of taxes reserved for the host city go to the Regional Improvement Commission (RIC).
Permanent casinos in Virginia
Caesars Virginia is under construction following groundbreaking in August 2022. Costing $650m, it will include a 500-room hotel and a casino gaming floor featuring more than 1,300 slots, 85 live table games, 24 electronic table games, a WSOP poker room and a Caesars Sportsbook. There will also be a spa, pool area and fitness centre. Meeting and convention space will total 40,000 square feet with an entertainment venue to accommodate up to 2,500 guests.
The permanent Hard Rock Hotel & Casino Bristol is due to open in 2024. It will include a 3,200-seat performance venue and a 20,000-person capacity outdoor entertainment venue. The casino will be open 24/7 and is expected to generate about 1,200 to 1,500 jobs. It will also include two hotel towers, a pool, and more.
Last week, the Norfolk City Council approved a purchase and development agreement with the Pamunkey Indian Tribe and Boyd Gaming for the construction of the long-planned Norfolk casino project, in Virginia.
In April, the Petersburg City Council unanimously approved Bruce Smith Enterprise and The Cordish Companies as the city’s development partner for a casino and entertainment district. The companies will codevelop a $1.4bn Live! Gaming & Entertainment District including Live! Casino & Hotel Virginia.
